[Form 4] SYNCHRONY FINANCIAL Insider Trading Activity

Rhea-AI Filing Summary

Equitable Holdings (EQH) 8-K – New Revolving Credit Facility

On 29 Jul 2025 EQH entered into a five-year senior unsecured revolving credit agreement with JPMorgan Chase Bank, N.A. and a syndicate of banks. The facility provides up to $1.0 billion in aggregate commitments, usable for cash borrowings or letters of credit for subsidiary account parties. It replaces the company’s prior $1.5 billion unsecured revolver dated 16 Feb 2018, which was terminated the same day. Full terms will be filed with the Q3-25 10-Q.

• Liquidity impact: Multi-year access to committed capital, but capacity falls by $0.5 billion (-33%).
• Capital structure: Facility remains unsecured, indicating lender confidence in EQH’s credit quality.
• Maturity: Commitment extends to 2030, supporting funding flexibility ahead of potential market volatility.

No earnings metrics or other operational updates were disclosed.

Insights

Credit Analyst

TL;DR: Neutral-slightly positive; new $1 bn unsecured revolver extends tenor but trims capacity 33%, maintaining liquidity without added collateral.

The unsecured nature and five-year term suggest banks remain comfortable with EQH’s credit profile. Although the headline limit drops to $1 bn, the company may simply be right-sizing unused capacity, saving commitment fees. Absence of covenants details prevents full assessment, yet shifting to 2030 maturity secures funding through multiple cycles. Overall liquidity remains strong relative to recent cash needs, so the credit move is broadly neutral for bondholders and modestly supportive for equity.

Portfolio Manager

TL;DR: Slight negative; smaller line cuts backup liquidity & could constrain future buybacks unless cash generation stays robust.

A 33% reduction in available revolver capacity lowers the emergency buffer for unforeseen market stress. If capital markets tighten, EQH may rely on costlier funding or curb shareholder returns. Investors will watch pricing grids and leverage covenants when filed. Until those terms are known, I view the change as modestly adverse to the equity risk-reward, though not immediately material to valuation.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DOUBLES BRIAN D

(Last) (First) (Middle)

C/O SYNCHRONY FINANCIAL

777 LONG RIDGE ROAD

(Street)

STAMFORD CT 06902

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Synchrony Financial [ SYF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See remarks

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/28/2025		A		14,976(1)	A	$72.87	728,895	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Restricted stock units ("RSUs") reported on this Form 4 represent RSUs granted in connection with the Reporting Person's annual compensation increase. The RSUs will vest in three equal annual installments of 33.33% each, beginning on the first anniversary of the grant date. Each RSU represents a contingent right to receive one share of Synchrony Financial common stock.

Remarks:

President and CEO

	/s/ Danielle Do, as attorney in fact	07/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Equitable Holdings (EQH) disclose in its latest 8-K?

The company entered a new $1 billion, five-year senior unsecured revolving credit agreement and terminated its previous $1.5 billion facility.

How large is the new revolving credit facility for EQH?

The facility provides up to $1.0 billion in aggregate commitments, all of which can be cash borrowings or letters of credit.

Which bank is the administrative agent for the new EQH revolver?

JPMorgan Chase Bank, N.A. serves as the Administrative Agent under the agreement.

How does the new facility compare to the previous one?

It is $500 million smaller than the $1.5 billion revolver established in 2018, but maintains an unsecured structure.

Does the 8-K include any earnings or financial results?

No. The filing addresses only the new credit agreement and related termination; no earnings data were provided.